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The Big Story: The most effective social media tool

Brokers are as gung ho about social media and its power to win leads as other salespeople. But which one -- Twitter, Facebook, et al -- provides the biggest bang for a broker's buck? MBN finds out.

Video transcript below:

Reporter:  Tweet, tag, Pin, Update, blog, using social media is now practically a part time job for brokers.  But does all that time online really create genuine leads?  Or is it too much hash tag?
 
Facebook, Twitter, Linkedin, mortgage brokers feel compelled to be on every social tool to reach the masses.  For all the effort and time, are brokers generating real business?  Real cold hard cash?
 
Patricia Giankas, Centum Metrocapp Wealth Solutions Inc.
Patricia Giankas:  Yes, we do use all the social media tools, facebook, we have over 1200 followers, Linkedin over 800 and Twitter, 50.  Of all the tools that we have used, Linked seems to be the best.  We have got quite a few leads from Linkedin, there are a lot of more professionals and all the tools are also very good for branding your company.
 
Reporter:  But is the industry becoming a faceless one with the loss of the personal touch?
 
Erin Hamilton, Mortgage Specialist, Sherwood Mortgage Group
Erin Hamilton:  I am more old fashioned, where I after I have met someone I might DO a follow up card, I do the birthday card and I try to stay away from e-mails, to remember them as much as possible. Even if you pick up the call and just say hey, I thought of you, if you drop by the house to send a quick text message, people love to be thought of and it’s just touching on that.
  • Kim Luxton: Planning for the future Kim Luxton: Planning for the future (views 13131)

    With slowing business, now is a great opportunity for brokers to focus on the bigger picture, says Kim Luxton, Director, Broker Sales for ING Direct. She says it's time for brokers to focus on client needs, not just today, but for the future and to help them achieve their long-term financial goals, which could result in better residuals and more referrals for the broker.

  • The Big Story: Why brokers do sell creditor insurance: Part II The Big Story: Why brokers do sell creditor insurance: Part II (views 15288)

    On today's Big Story and Part II of our look at creditor insurance, we spoke to Kim Luxton of ING Direct, Ian Tenggardjaja of The Mortgage Centre Mortgage Professionals, Kelly Price,of Mortgage Protection Plan and Mauro Di Cosola of Dominion Lending Centres Mortgage Village.

  • The Big Story: Creditor insurance - Part I The Big Story: Creditor insurance - Part I (views 17356)

    On the average broker’s to-do list, creditor insurance is usually near the bottom. But as brokers look for ways to boost their bottom line, ancillary products like creditor insurance are starting to look more appealing. Still, it’s often a tough sell and that’s coming from the industry itself. Overcoming these challenges is the first step say some brokers. On today's Big Story and Part I of our look at creditor insurance, we spoke to Kelly Price,of Mortgage Protection Plan, Ray McMillan, of Home Mortgage Consultants and Mauro Di Cosola of Dominion Lending Centres Mortgage Village. Price acknowledges that brokers feel selling creditor insurance is someone else’s job and that rings true for McMillan, who says in fact that “somebody else” is also sending them referrals. While apprehension can be a stumbling block for some brokers, it’s not insurmountable, says Di Cosola. Find out on today’s The Big Story, on MortgageBrokerNews.ca TV, your home for industry news, opinion and analysis and

  • The Big Story: Online lead generation The Big Story: Online lead generation (views 15052)

    On today’s Big Story we spoke to Drew Donaldson, an agent with Verico Safebridge Mortgage Solutions, Nick Kyprianou, CEO of Equity Financial Trust and Brad Compton, an agent with Invis. Some feel however, that experienced brokers who know how deal with rate shoppers and offer them more than just a mortgage, but a financial plan, can use these online leads to their advantage.